So, do you think they'll have an autoshow this winter?

Detroit declares bankruptcy.

http://www.detroitnews.com/article/20130718/METRO01/307180103/Detroit-files-largest-municipal-bankruptcy-case-U-S-history?odyssey=mod|breaking|text|FRONTPAGE]http://www.detroitnews.com/article/20130718/METRO01/307180103/Detroit-files-largest-municipal-bankruptcy-case-U-S-history?odyssey=mod|breaking|text|FRONTPAGE

There's already been mention of a federal bailout. Ohhh how exciting.

joemac wrote:

There's already been mention of a federal bailout.  Ohhh how exciting.

Of course the banks, insurance companies, and wall street will demand it.

We'll see if they can right size all those legendary pension plans. Bet the unions will fight that.

Detroit went from a population high of almost 2 million residents to less than 700,000.
Having only 1/3 the population will screw up any city.
Then throw on a bunch of corrupt city managers and mayors.....

Another bastion of liberalism laying in smoking ruin.

This is the direction our entire country is heading. Bankrupt, corrupt ruin.

They just need to build a wall around the entire city (like the one they should be building along our southern border) and drop all Trayvon supporters in there and let 'em cannibalize what's left.

Piss on Detroit. Beer and asparagus piss on our government if they attempt to bail them out. The unions and crooks (but I repeat myself) "built that", let 'em fix it.

Long term excesses will sink any community. Gotta wonder which cities are next. California may take the cake.

http://www.fourwinds10.net/siterun_data/government/war/news.php?q=1319562351

http://www.usatoday.com/story/news/nation/2013/05/15/ten-california-cities-in-distress/2076217/

I probably already mentioned I met a local retired police officer from that area about 4 yours ago. As with most, he retired early, was doing real well then, nice new upper middle-class house on a hill ($600k), wife never worked, they always drove late model black GM products (Escalade and Corvette). Custom license plates touting Detroit area police. It didn't add up then. It does now.

It's a self fulfilling prophecy until the ability to borrow runs out.

Municipalities have lots in many capacities any thought of frugality.

The new stacked stone facade exterior construction state of the art fire house also accompanies a large LED sign out by the road that flashes the city logo, time and temperature.  Without a doubt untold thousands were spent on unwarranted items as such.  Yet the municipalities will be the first to cry about firing teachers and fire fighters cause there's no money.

Add to that all the corruption, no bid contracts, zoning changes, pension and benefit increases, hourly rate and salary increases, all in the dark of the night or within executive session the pump is primed for corruption.

Diesel Dan wrote:

Detroit went from a population high of almost 2 million residents to less than 700,000.
Having only 1/3 the population will screw up any city.
Then throw on a bunch of corrupt city managers and mayors.....

We were told that Toyota Hyundai, and Honda and others made there cars here and provide all kinds of jobs, they would pick up they slack, we didn't need (GM, Ford, Chrysler).

Having a part in the production of a tangible durable good is not a bad thing. Having a manufacturing sector based in ones country is a foundation for prosperity. There is no fundamental replacement for manufacturing. It will be well too late before the American mainstream gets it.

Sorry America don't let me interrupt you on your question to buy everything foreign. No one is telling you what to buy. Yet there are consequences for your purchase decisions. Many are too ignorant to see it. Not much help for them, lost souls, incapability of intelligent critical assessment. These will be the first to ask, "Where's the jobs?" Look to what's in your driveway and what's in your house. Any of it manufactured here, nuts to bolts? No, well look to where those nuts and bolts sourced to locate the "jobs".

Diseasel wrote:

joemac wrote:

There's already been mention of a federal bailout.  Ohhh how exciting.

Of course the banks, insurance companies, and wall street will demand it.

Then we get to bail out the banks. Or next round, Open Banking Resolution (OBR), where your bank assets are they'res and your a creditor to the bank. You may get to keep some of your money.

Now mind you it will be under the guise of some huge crisis, were we're told we need to all give in to save the world financial foundation. Financial collectivism at it's greatest. What a scheme.

It just gets better and better.

joemac wrote:

 Having a manufacturing sector based in ones country is a foundation for prosperity.  There is no fundamental replacement for manufacturing.  It will be well too late before the American mainstream gets it.

You're preaching to the choir brother and we (this site) hear you....BUT..
...here is what the general populous hears.....
...... 

Go over to the GMI site and it is amazing how many think manufacturing isn't necessary for a productive society.

Put your worthless senators and congressmen on speed dial. Say no to this bailout!

Detroit, finally you know what it is to run out of other people's money.

I hope it stays that way.

Municipal investors have been pocketing profits from higher bond interest rates knowing this could happen. No way they should now be rewarded with a bailout.

Chicago is trying to straighten their pensions. They'll lay off 2100 teachers etc as the story goes.

Quote :

“In fiscal year ‘14 we’re facing a historic deficit of $1 billion that is driven primarily by a $400 million increase in our annual teacher pension payments,” said CPS spokesman Becky Carroll. “Absent pension reform in Springfield, we have very few options available to us to close that gap, and that has resulted in bringing this crisis to the doorsteps of our schools.”

http://www.suntimes.com/news/metro/21401916-418/cps-to-lay-off-roughly-2100-staff-including-veteran-teachers-this-week-union.html

"So, do you think they'll have an autoshow this winter?" is the least of our worries. Someone tweeted, "If Obama had a city, it would look like Detroit." The problem is, he has an entire nation. Obama and the "progressives" (an euphemism for Marxist half-wits) will do for the nation what decades of "Democratic" rule have done for Detroit. The damage already done is plain to see.

I don't know if anyone caught it, as I'm pretty sure nobody here pays any attention to MSNBC, but...

One of their newest talking heads, Melissa Harris-Perry said this:

Quote :

We can talk about the microstory of Detroit, but it seems to me that Detroit, as always, is standing for all kinds of things about America. In the case of Detroit, the reason that the tax base has become so small is because a loss of population, right? So folks out, they are not there to pay the taxes on the homes and the kind of deterioration is what you see in the numbers you’ve suggested. But this lack of tax base is also exactly the kind of thing that many Republicans would impose on us, even when our cities have sufficient populations, even when our communities have sufficient populations. This is what it looks like when government is small enough to drown in your bathtub, and it is not a pretty picture.

Is there anybody that still wonders why Detroit failed? Can people really be this clueless?? 5 decades of progressive liberal (crooked) Democrat policies have led to this, and they're still trying to pin this on Republicans??

F me runnin'....

GMC D-Max wrote:

I don't know if anyone caught it, as I'm pretty sure nobody here pays any attention to MSNBC, but...

One of their newest talking heads, Melissa Harris-Perry......

I watch it as much as it pains me just so I know what kind of shenanigans their up too. She's also the same person that said your kids aren't really your kids, they belong to the collective.

She also had an emotional moment with her 11 year old daughter in that she didn't know how to explain the George Zimmerman verdict to her.  

Quote :

Is there anybody that still wonders why Detroit failed?  Can people really be this clueless??  5 decades of progressive liberal (crooked) Democrat policies have led to this, and they're still trying to pin this on Republicans??

F me runnin'....

Ohh of course not, but that's common sense, a trait that's missing from all forms of government. Power, greed, and corruption are the priorities now at every level.

This is all part of the normal play at MSNBC, Fox gets the other side of the coin. The is no side for common sense, fiscal conservative, limited government, supporting American's liberties.

http://www.theblaze.com/stories/2013/07/21/ted-nugent-blames-liberals-for-detroit-bankruptcy-turned-it-into-a-bloodsucker-excuse-making-hell/

“Liberal Democrats took hold of the greatest, most productive city on Earth and turned it into a bloodsucker excuse-making hell,” the Detroit native told TMZ. “Liberals seem to think that what Mugabe did to destroy the breadbasket of Africa in Zimbabwe is somehow a desirable model.”

Nugent was referring to Zimbabwe’s President Robert Mugabe, in office since 1980, who has presided over decades of economic crisis.

“If allowed to continue, our president will do the same to the whole country. Heartbreaking and tragic,” Nugent told TMZ.

joemac wrote:

http://www.theblaze.com/stories/2013/07/21/ted-nugent-blames-liberals-for-detroit-bankruptcy-turned-it-into-a-bloodsucker-excuse-making-hell/

“Liberal Democrats took hold of the greatest, most productive city on Earth and turned it into a bloodsucker excuse-making hell,” the Detroit native told TMZ. “Liberals seem to think that what Mugabe did to destroy the breadbasket of Africa in Zimbabwe is somehow a desirable model.”

Nugent was referring to Zimbabwe’s President Robert Mugabe, in office since 1980, who has presided over decades of economic crisis.

“If allowed to continue, our president will do the same to the whole country. Heartbreaking and tragic,” Nugent told TMZ.

And good 'ol Uncle Ted is right on the money, as usual. It's no wonder he pulled up stakes, and moved to Texas (of course, a house in the UP stricken by black mold helped...).